$WAL

Western Alliance Bancorp

  • NEW YORK STOCK EXCHANGE INC.
  • Finance
  • Regional Banks
  • Finance and Insurance
  • Commercial Banking

PRICE

$78.03 -

Extented Hours

VOLUME

831,176

DAY RANGE

74.69 - 78.725

52 WEEK

71.68 - 123.89

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U.S. stock futures looking mixed on the final day of trading for the week, but a much better picture then what it looked like initially overnight following the first night of disappointing earnings overnight as shares of tech companies Intel (INTC) and Snap (SNAP) led the declines. Asia’s subdued risk sentiment gets a surprise boost following a report of Evergrande $83.5M interest payment on an overdue dollar bond. European stocks also rose on Friday after China Evergrande paid a bond coupon before this weekend’s deadline helping boost those markets and lift sentiment. The Nikkei Index rose nearly 100-points to 28,804, the Shanghai Index slipped -0.3% to 3,582, and the Hang Seng Index climbed 109 points to 26,126. In Europe, the German DAX is up over 100 points to 15,585, while the FTSE 100 gains 0.5% to 7,225. The Dow eased from a record high hit on Wednesday, while the Nasdaq paced market gains and the S&P 500 hit a fresh intraday record high thought breadth was somewhat mixed as six of the 11 major S&P 500 sectors finished lower, with energy stocks falling the most. While the majority of earnings thus far to start quarterly earnings (about 20% in for the S&P 500), the potential impact of supply chain disruptions and labor shortages on profits is starting to take center stage this earnings season. IBM tumbled 8.2% after it missed market estimates for quarterly revenue, while Tesla (TSLA helped lift the Nasdaq. The story of the day was Digital World Acquisition Corp (DWAC), the special purpose acquisition company (SPAC) that will merge with former President Trump’s social media company, shooting up 356% on Thursday, closing at $45.50 a share. Applications for U.S. state unemployment benefits unexpectedly declined to 290,000 last week to pre-pandemic levels, raising expectations the Fed may look to raise rates sooner in 2022 to cool inflation. The CBOE volatility index closed Thursday at 15.01, lowest close since Feb. 19, 2020. Market Closing Prices Yesterday · The S&P 500 Index gained 13.59 points, or 0.30%, to 4,549.78 · The Dow Jones Industrial Average slid -6.26 points, or 0.02%, to 35,603.08 · The Nasdaq Composite surged 94.02 points, or 0.62%, to 15,215.70 · The Russell 2000 Index advanced 6.42 points, or 0.28% to 2,296.18 Events Calendar for Today · 9:45 AM ET Markit Manufacturing PMI-Flash · 9:45 AM ET Markit Services PMI-Flash · 9:45 AM ET Markit Composite PMI-Flash · 1:00 PM EST Baker Hughes Weekly rig count data Earnings Calendar: · Earnings Before the Open: AIMC, AXP, CLFY, CLF, FHB, GNTX, HCA, HON, RF, ROP, SLB, SMPL, STX, VFC World News · The eurozone composite PMI dropped from 56.2 to 54.3 in October, posting its lowest reading in six months; Eurozone Oct Mfg PMI (flash) beat: 58.5 vs 57.0 consensus; EZ Oct Services PMI (flash) missed at 54.7 vs 55.5 consensus · UK Sep Retail Sales missed: -0.2% m/m vs 0.5% cons; -1.3% y/y vs -0.4% consensus; UK Sep Retail Sales ex-autos missed: -0.6% m/m vs 0.5% cons; -2.6% y/y vs -1.7% consensus · German Oct Manufacturing PMI (flash) beat: 58.2 vs 56.5 consensus; German Oct Services PMI (flash) missed: 52.4 vs 55.0 consensus · Bank of England chief economist Pill says that inflation could exceed 5% but likely to fall in 2H of next year, BoE would have a “live” decision on whether to raise interest rates at its November meeting. · GfK consumer confidence dropped 4 points to minus 17 in October as higher inflation and climbing Covid rates weighed on sentiment Sector News Breakdown Consumer · Chipotle Mexican Grill, Inc. ($CMG) Q3 EPS $7.02 vs. est. $6.32; Q3 revs rise 21.9% to $2.0B vs. est. $1.94B; qtrly comparable restaurant sales increased 15.1%; qtrly digital sales grew 8.6% year over year to $840.4M; Restaurant level operating margin was 23.5% 1, an increase of 400 bps · Boston Beer ($SAM) Q EPS ($4.76) vs est. $4.02 on revs $561.6Mm vs est. $531.5Mm; guides FY depletions and shipments +18-22%, sees national price increase 2-3%, gr margin 40-42%, advertising promo & selling exp increase $80-100Mm · BJ Restaurants ($BJRI) 3Q EPS ($0.09) vs est. $0.11 on revs $282.2Mm vs est. $292.8Mm, comps +41.8% (-0.5% vs 2019); saw rapid food cost inflation hit 3Q restaurant op margins; expects sales to benefit as staffing levels improve; · Mattel Inc. ($MAT) Q3 adj EPS $0.84 vs. est. $0.72; Q3 sales $1.76B vs. est. $1.68B; raises FY21 revenue growth view to up about 15% from 12%-14% and boosts FY21 adj EBITDA view to $900M-$925M from $875M-$900M; qtrly net sales in the N.A. segment increased 12% as reported and gross billings increased 12% as reported; worldwide gross billings for barbie of $555.2 mln, up 4% and for hot wheels of $329.9 mln, up 5% · PriceSmart ($PSMT) 4Q EPS $0.63 vs est. $0.74 on revs $909.6Mm vs est. $879.8Mm; comparable net merchandise sales +10.3% · Whirlpool ($WHR) 3Q adj EPS $6.68 vs est. $6.12 on net sales $5.5B vs est. $5.74B; guides FY net sales +13% vs est. +15.5%, sees FY adj EPS about $26.25 vs est. $26.35 · Robert Half ($RHI) 3Q EPS $1.53 vs est. $1.40 on revs $1.713B vs est. $1.637B; sees Q4 EPS $1.37-$1.47 vs. est. $1.30; sees Q4 revenue $1.655B-$1.735B vs. est. $1.65B · Walmart ($WMT) is offering bitcoin through 200 of its CoinStar kiosks in a tie-up with crypto atm firm CoinMe- CoinDesk reported last night Energy · DMC Global ($BOOM) shares fell -10%; 3Q EPS $0.02 vs est. $0.10 on sales $67.2Mm vs est. $71.5Mm; guides 4Q sales $46-50Mm below est. $73.6Mm · Altus Midstream Company ($ALTM) said it will combine with privately-owned BCP Raptor Holdco LP in an all-stock transaction. BCP is the parent company of EagleClaw Midstream, which includes EagleClaw Midstream Ventures, the Caprock Midstream and Pinnacle Midstream businesses, and a 26.7% interest in the Permian Highway Pipeline. · Southern Co.’s ($SO) Georgia Power adds another three months to the timetable for the Vogtle 3 and 4 nuclear expansion projects; company now projects a Unit 3 in-service date in Q3 2022 and a Unit 4 in-service date in Q2 2023 Financials · Associated Banc-Corp. ($ASB) Q3 EPS $0.56 vs est. $0.44, tangible book value per share $17.58, recovery of credit losses $24M vs est. recovery of $1.68M · Bank Ozk ($OZK) Q3 EPS $1.00 vs. est. $0.97; Q3 total interest income $262.7M versus 268.3M same quarter 2020 · Independent Bank ($INDB) Q3 EPS $1.21 vs. est. $1.02; Total assets of $14.5 billion at September 30, 2021 increased by $339.1 million, or 2.4%, from the prior quarter, and by $1.4 billion, or 10.3%, as compared to the year ago period · SVB Financial ($SIVB) Q3 EPS $6.24 vs. est. $5.04; qtrly net interest income (fully taxable equivalent basis) of $859 million · Western Alliance ($WAL) Q3 EPS $2.28 vs. est. $2.22; Q3 revs $548.5M vs. est. $535.86M; produced highest ever quarterly organic loan growth of $4.8 billion, with deposits also up $3.4 billion (32% annualized), driving a 14.3% increase in PPNR1 during the quarter to $317.1 million · WR Berkley ($WRB) 3Q EPS $1.40 vs est. $0.99 on revs $2.42B vs est. $2.3B; qtrly net premiums written +23.7% Healthcare · Accuray Inc. ($ARAY) preliminary Q1 revs $107.4M vs est. $88.5M, raised FY revenue view to $420M-$427M from $410M-$420M, above est. $415.8M · Metacrine ($MTCR) shares fall -50%; to halt future development of FXR program in NASH; reports interim results for met642 phase 2a trial in patients with NASH and announces a strategic re-prioritization of its clinical development programs; shares downgraded to Hold from Buy at Jefferies, Canaccord and HC Wainwright · Minerva Surgical ($UTRS) 6.25M share IPO priced at $12.00 · Xilio Therapeutics ($XLO) 7.35M share IPO priced at $16.00 · Iveric bio ($ISEE) 9M share Spot Secondary priced at $16.75 · Rite Aid ($RAD) has filed for a mixed securities shelf offering. Industrials & Materials · Honeywell ($HON) Q3 adj EPS $2.02 vs. est. $1.99; Q3 revs $8.47B vs. est. $8.65B; qtrly organic sales grew 8%, led by 38% growth in aerospace commercial aftermarket, 21% growth in safety and productivity solutions; 14% growth in advanced materials within performance materials and technologies; cuts FY21 revenue view to $34.2B-$34.6B from $34.6B-$35.2B (est. $35.1B) and narrows FY21 EPS view to $8.00-$8.10 from $7.95-$8.10 · Carlisle Companies ($CSL) 3Q adj EPS $2.99 vs est. $2.75 on revs $1.3B vs est. $1.27B · Celanese ($CE) Q3 adj EPS $4.82 vs. est. $4.75; Q3 revs $2.3B vs. est. $2.13B; raises full-year outlook; sees Q4 EPS about $4.00 vs. est. $3.97; reported record net sales of $2.3B for the quarter with sequential pricing and volume increases of 3% and 1%, respectively · Lynas Rare Earths ($LYSCF) said Q1 production and sales revenues fell QoQ, citing disruptions from a rise in COVID-19 cases in the area around its Malaysia processing plant; Q1 total rare earths production fell 16% Q/Q to 3,166 metric tons, Q1 revenues fell to A$121.6M from $A$185.9M · Olin Corp. ($OLN) Q3 EPS $2.38 vs. est. $2.02; Q3 revs $2.34B vs. est. $2.36B; qtrly adjusted Ebitda achieved despite production interruptions from hurricanes, raw material cost volatility, & supply-chain disruptions; for FY21, is targeting debt reduction of approximately $1.1 bln using cash generated from operations · U.S. Xpress Enterprises, Inc ($USX) 3Q adj EPS $0.07 vs est. $0.14 on revs $491.1Mm vs est. $479.6Mm · Vicor Corporation ($VICR) 3Q EPS $0.29 vs est. $0.44 on revs $84.9Mm vs est. $98.2Mm; gross margin 50.4% vs est. 52.5%; book/bill 2.0 with backlog $296Mm at qtr end Technology, Media & Telecom · Intel Corp. ($INTC) falls -7%; 3Q EPS $1.71 vs est. $1.11 on revs $19.2B vs est. $18.24B (CCG revs 9.7B -2%, DCG revs $6.5B +10%), gr margin 56% vs est. 54.9%; guides FY adj EPS $5.28 vs est. $4.79; sees 2021 cap-ex spending $18B-$19B; questions about falling gross margins dominated the c/c as the company said it expects to turn back to growth in a few years, and execs kept defending their forecast, comfortable with margins above 50% · Cambium Networks ($CMBM) lowers guidance; sees Q3 revs about $75M, down from prior view of $88-$92M which primarily reflects greater than anticipated global supply constraints impacting shipments of products which we expect to continue into the first half of calendar 2022; said Q3 net income is expected to be below the low-end of the previous GAAP and non-GAAP ranges · Snap Inc. ($SNAP) tumbles -20% overnight on lower guidance; Q3 adj EPS $0.17 vs est. $0.08 on revenue $1.07B vs est. $1.1B, DAUs 306M (+23% YoY); sees Q4 DAUs 316-318M, revenue $1.165B-$1.205B below est. $1.36B, saying it missed the lower end of guidance due to changes to advertising tracking on Apple’s iOS that did not scale as expected, making it more difficult for ad partners to measure and manage campaigns, and macroeconomic factors impacting advertising partners with global supply headwinds expected to impact ad demand Q4 in particular; (shares of FB, ROKU, ETSY, TWTR among names that fell in reaction to SNAP) · Western Digital’s ($WDC) discussions to merge with Japan’s Kioxia in a deal worth over $20B have stalled, the Wall Street Journal reported, citing people familiar with the matter. The companies were seeking to finalize a stock deal that would have established a memory-chip giant worth about $40B

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Thursday, October 21, 2021 Futures Up/Down % Last Dow -101.00 0.28% 35,376 S&P 500 -10.25 0.24% 4,517 Nasdaq -22.50 0.15% 15,355 U.S. futures are down slightly overnight, as the S&P 500 index comes into the day with a 6-day win streak, as the earnings barrage continues today, with shares of TSLA and IBM slipping after quarterly results last night while media giant AT&T (T) rises early following its results. For the moment, China Evergrande debt contagion fears, inflation, Fed tapering, rising commodity prices are having no effect on global stock markets with the CBOE Volatility index (VIX) settling around its lowest levels in about 2-months. As for yesterday, the Dow Jones Industrial Average touched an all-time fresh intraday high while the S&P 500 flirted with its all-time intraday record highs (rising a 6th straight day) after strong earnings results and forecasts from healthcare companies and as banks advanced amid rising Treasury yields. The 10-Year Treasury yield spiked to 1.6730% early, a fresh five-month high sending the S&P 500 Bank Index higher for a fifth-straight day, for its fourth-straight record close. Technology underperformed as the Nasdaq Composite closed slightly lower as inflation fears crept into the market late day following comments from Federal Reserve President Quarles. In Asian markets overnight, The Nikkei Index fell -546 points (1.87%) to settle at 28,708, the Shanghai Index inched higher 7-points to 3,594 and the Hang Seng Index declined -118 points to 26,017. In Europe, the German DAX is down just a few points holding above 15,500, while the FTSE 100 slips -0.3% to just under 7,200. Market Closing Prices Yesterday The S&P 500 Index gained 16.56 points, or 0.37%, to 4,536.19 The Dow Jones Industrial Average rose 152.03 points, or 0.43%, to 35,609.34 The Nasdaq Composite dropped -7.41 points, or 0.05%, to 15,121.68 The Russell 2000 Index advanced 13.85 points, or 0.61% to 2,289.77 Events Calendar for Today 8:30 AM ET Weekly Jobless Claims…est. 300K 8:30 AM EST Continuing Claims…est. 2.55M 8:30 AM ET Philly Fed Index for October…est. 25.0 10:00 AM ET Existing Home Sales MoM for September…est. 6.09M 10:00 AM ET Leading Index MoM for September…est. +0.4% 10:30 AM ET Weekly EIA Natural Gas Inventory Data Earnings Calendar: Earnings Before the Open: AAL, ALK, ALLY, AMTB, AN, BANC, BHLB, BKU, BX, CROX, DHX, DHR, DOW, EEFT, EWBC, FAF, FCX, GATX, GPC, GTLS, HOMB, HRI, IIIN, IPG, IQV, KEY, LNN, MMC, POOL, SASR, SCHN, T, TPH, TRN, TSCO, UNP, VLO, WBS Earnings After the Close: ASB, NJRI, BOOM, CE, CMG, CSL, CSTR, FFBC, GBCI, INTC, MAT, NUE, OZK, PBCT, PINE, PSMT, SAM, SNAP, SIVB, TRST, USX, VICR, WAL, WHR, WRB, WSFS Other Key Events: The European Society of Gene and Cell Therapy (ESGCT) Congress 2021 is taking place virtually this year from October 19-22 Macro Up/Down Last Nymex -0.53 82.89 Brent -0.95 84.87 Gold 1.90 1,788.70 EUR/USD -0.0012 1.1639 JPY/USD -0.27 113.99 10-Year Note +0.013 1.645% Sector News Breakdown Consumer Tesla Inc. ($TSLA) 3Q adj EPS $1.86 vs est. $1.59 on revs $13.76B vs est. $13.63B, auto gr margin 30.5% vs 27.7% year ago, says expect op margin will continue to grow; qtly bitcoin-related impairment of $51Mm; continue to target first model Y production builds in Berlin and Austin before end of year; says challenges including semi shortages, port congestion, rolling blackouts impacting ability to keep factories running full speed; Las Vegas ($LVS) Q3 revs $857M below the $1.34B estimate; on a GAAP basis, qtrly total net revenues for SCL increased to $611 mln, compared to $167 mln in q3 of 2020; Q3 adj EPS loss (-$0.45) vs. est. loss (-$0.20) Unilever ($UL) rises on higher-than-expected Q3 sales growth; reports higher-than-expected underlying sales growth for Q3 beating analysts’ expectations; reiterates full-year profit margin forecast, defying some analysts’ fears of a cut; warns inflation is likely to accelerate next year Portillo’s ($PTLO)27M share IPO priced at $20.00 Energy Kinder Morgan ($KMI) Q3 adj EPS $0.22 vs. est. $0.24; Q3 revs $3.82B vs. est. $3.26B; backs FY21 adjusted EBITDA view $7.9B, expects to generate net income attributable to KMI of $1.7 billion and declare dividends of $1.08 per share, a 3% increase TechnipFMC ($FTI) shares fall -6%; 3Q adj EPS ($0.06) vs est. $0.02 on revs $1.58B vs est. $1.7B, qtrly total inbound orders were $1.37B, qtr-end backlog $7.0B; guides FY subsea revs $5.2-5.5B, sees FY surface tech revs $1.05-1.25B, sees FY CAPEX approx $250Mm HighPeak Energy ($HPK)2M share Secondary priced at $10.00 Helix Energy ($HLX) narrows FY21 revenue view to $600M-$645M from $600M-$670M; narrows FY21 adjusted EBITDA view to $85M-$100M from $75M-$100M and boosts FY free cash flow view to $80M-$120M from $45M-$90M; lowers cap-ex view Valero (VLO) Q3 adj EPS $1.22 vs. est. $0.92; Q3 revs $29.52B vs. est. $23.97B Financials Discover Financial ($DFS) Q3 EPS $3.54 vs. est. $3.53; Q3 revs $2.78B vs. est. $2.91B; Total loans ended the quarter at $89.5 billion, up 1% year-over-year, and up 2% sequentially. Credit card loans ended the quarter at $70.3 billion, up 1% year-over-year. Personal loans decreased $321 million, or 4%, and private student loans increased $168 million, or 2%, year-over-year. Banner Corp. ($BANR) 3Q EPS $1.44 vs est. $1.15 on revs $155.5Mm vs est. $122.6Mm Cohen & Steers ($CNS) 3Q adj EPS $1.06 vs est. $0.97 on revs $154.2Mm vs est. $148.3Mm Equifax ($EFX) 3Q adj EPS $1.85 vs est. $1.72 on revs $1.2B vs est. $1.18B; guides 4Q revs $1.23-1.25B vs est. $1.2B and adj EPS $1.72-1.82 vs est. $1.80; sees FY revs $4.9-4.92B vs est. $4.83B and adj EPS $7.52-7.62 vs est. $7.47 First Industrial Realty ($FR) 3Q FFO/share $0.51 vs est. $0.49; raises FY FFO/share guide by $0.02 at midpoint to $1.95 vs est. $1.94 OneMain Holdings ($OMF) 3Q adj EPS $2.37 vs est. $2.30; C&I managed receivables $19.1B, C&I net charge-off ratio 3.52%, repurchased 2.4Mm shares for $141Mm in qtr; proposes minimum qtrly div/share of $0.70; Sterling Bancorp. ($STL) 3Q adj EPS $0.52 vs est. $0.51; NII $213.8Mm vs est. $219.3Mm; proposes 3Q dividend of $0.07 SL Green Realty ($SLG) Q3 FFO $1.78 vs. est. $1.58; Q3 revs $142.7M vs. est. $160.97M; revising its earnings guidance ranges; said same-store cash NOI, including our share of same-store cash NOI from unconsolidated joint ventures, increased by 5.7% for Q3; narrows FY21 FFO view to $6.45-$6.65 from $6.30-$6.70 SLM Corp. ($SLM) 3Q core EPS $0.24 vs est. $0.20; private education loan originations +10% to $2.1B; declares 4Q dividend of $0.11/share vs $0.03/share in 3Q21; qtrly NII $358Mm vs est. $343.6Mm; qtrly education loan provisions for credit losses $138Mm; sees FY net charge-offs $195M to $205M, saw $215M to $225M Texas Capital ($TCBI) Q3 EPS $0.76 vs. est. $1.10; Q3 net interest income of $194.1M declines from $197.0M in Q2 and $207.6M YoY due to a decline in loan fees, partially offset by a decrease in average interest-bearing deposits; non-interest income also fell 30% from Q2 and 65% from Q3 2020, driven by Q2 sale of its mortgage servicing rights portfolio and other non-interest income. Triumph Bancorp ($TBK) Q3 EPS $0.94 vs est. $1.08; Q3 net charge-offs .08%; Q3 CET1 capital ratio 9.45%; Q3 tangible book value per share $19.73; net interest margin was 6.69%. Yield on loans and the average cost of our total deposits were 7.92% and 0.16%, respectively Umpqua Holdings Corporation ($UMPQ) Q3 EPS $0.49 vs. est. $0.44; Net income of $108.1 million, or $0.49 per common share; non-PPP loan balances increased $479.7 million or 2.3%; Deposit balances increased $754.8 million or 2.9%; provision for credit losses recapture of $18.9 million as modeled economic conditions improve Healthcare S. regulators on Wednesday signed off on extending COVID-19 boosters to Americans who got the Moderna (MRNA) or Johnson & Johnson ($JNJ) vaccine and said anyone eligible for an extra dose can get a brand different from the one they received initially. Tenet Healthcare ($THC) Q3 adj EPS $1.99 vs. est. $0.99; Q3 revs $4.89B vs. est. $4.81B; qtrly same-hospital net patient service revenue per adjusted admission up 6.2% versus q3 2020; sees 2021 adj EPS now $6.15-$6.38 (from prior $5.23-$5.73) and adj Ebitda $3.275B-$3.325B (from prior $3.15B-$3.25B) Regeneron ($REGN) and Sanofi ($SNY) said the FDA has approved Dupixent, or dupilumab, as an add-on maintenance treatment of patients aged 6 to 11 years with moderate-to-severe asthma characterized by an eosinophilic phenotype or with oral corticosteroid-dependent asthma Ventyx Biosciences ($VTYX)47M share IPO priced at $16.00 Investment adviser Darwin Global Management became the third shareholder of Acceleron Pharmaceuticals ($XLRN) to publicly oppose the company’s pending acquisition by Merck ($MRK). In a letter, Darwin said it believes Merck’s $11 billion offer price, or $180 per share, is too low. Acceleron is actually worth between $22 billion and $28 billion, according to the firm, or $353 to $451 per share Industrials & Materials CSX Corp. ($CSX) 3Q EPS $0.43 vs est. $0.39 on revs $3.29B vs est. $3.11B; 24% surge in revenue just outpaced a 23% increase in expenses. Activist investor Elliott Management Corp. has a big stake in Canadian National Railway Co. ($CNI), the WSJ reported citing people familiar with the matter said, adding to pressure on the railroad after its CEO resigned following a failed bid for rival Kansas City Southern. Covenant Logistics ($CVLG) 3Q adj EPS $1.02 vs est. $1.02 on revs $274.6Mm vs est. $259.9Mm Dow Inc. ($DOW) Q3 EPS $2.75 vs. est. $2.56; Q3 revs $14.84B vs. est. $14.25 Graco ($GGG) 3Q adj EPS $0.57 vs est. $0.63 on revs $486.7Mm vs est. $490.5Mm; says continue to target mid-high-teen organic sales growth on constant currency basis for FY21 vs est. +19% Kaiser Aluminum ($KALU) Q3 adj EPS $0.57 vs. est. $1.33; Q3 sales $751M misses the $773.2M est.; anticipates cost issues and supply chain disruptions will continue during quarter Landstar ($LSTR) Q3 EPS $2.58 vs. est. $2.49; Q3 revs $1.734B vs. est. $1.66B; Q3 truckload transportation revenue hauled via van equipment inQ3 was up 59% YoY to $918.1M; truckload transportation revenue hauled via unsided/platform equipment in Q3 was up 44% to $423.0M; sees Q4 EPS $2.55-$2.65 vs. est. $2.43 PPG Industries ($PPG) 3Q adj EPS $1.69 vs est. $1.58 on sales about $4.4B vs est. $4.24B; guides FY adj EPS $6.67-6.73 vs est. $7.03; says plan to execute share repurchases in 4Q and continue to evaluate potential bolt-on acquisitions; say increased supply disruptions negatively impacted sales and manufacturing costs Rush Enterprises ($RUSHA) Q3 EPS $1.20 vs. est. $0.96; Q3 revs $1.27B below est. $1.34B; said supply chain issues continue to impact new truck and aftermarket sales Valmont Industries ($VMI) 3Q adj EPS $2.57 vs est. $2.47 on revs $868.8Mm vs est. $862.3Mm; guides FY adj EPS $10.60-11.10 vs est. $10.78; sees FY22 sales +7-12% vs est. +6.2%, sees EPS +13-15% vs est. +13.5%

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+Initiations 10/18: $AKA $ARBK $ATAI $BRLT $ESMT $FRSH $INFI $JG $NRDY $OLED $RBOT $RELY $SGRY $SOVO $STER $THRN $TOST $TRUP $WAL

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Tuesday, August 17, 2021 Futures Up/Down % Last Dow -221.00 0.62% 35,313 S&P 500 -21.25 0.49% 4,452 Nasdaq -59.50 0.39% 15,075 U.S. equity-index futures are looking lower this morning, while global stocks have fallen for a second day amid several market concerns. U.S. major averages hit record highs (S&P 500 and Dow record high closes for a 5th straight session) on Monday as investors moved into defensive sectors (Healthcare, Staples, Utilities) and stocks recovered from losses earlier in the session, shaking off glum economic data out of China and the U.S., but start the day on shaky ground yet again. Several factors playing into the morning decline including: 1) concerns that more lockdowns could be needed to contain the coronavirus pandemic; 2) Treasury yields fall ahead of an address by Federal Reserve Chairman Jerome Powell on the health of the world’s largest economy; 3) Dow component Home Depot (HD) reports a top and bottom-line beat, but weaker-than-expected comp sales drag shares lower; 4) Federal Reserve Bank President Eric Rosengren said Monday he could be prepared to begin rolling back economic stimulus this fall. But he said he wouldn’t boost interest rates until the employment picture improves; 5) China markets tumble following another regulatory crackdown after China published detailed rules to tackle unfair competition and companies’ handling of critical data; the draft regulations ban unfair competition and restrict the use of user data. Investors were also digesting news from Afghanistan, where thousands of civilians desperate to flee the country thronged Kabul airport after the Taliban seized the capital. Asian stocks retreat for fourth day as the Hang Seng and Shanghai Composite lose ground after China issues draft rules targeting unfair online competition. The Kosdaq sinks 2.3% as Korean selloff resumes following Monday’s holiday. The Nikkei Index fell -98 points to 27,424, the Shanghai Index tumbled -70 points (or 2%) to 3,446 and the Hang Seng Index declined -435 points (1.66%) to 25,745. In Europe, the German DAX is down around -40 points to 15,885, while the FTSE 100 is up a few points to 7,165. Wal-Mart earnings expected later this morning as well. Market Closing Prices Yesterday The S&P 500 Index gained 11.71 points, or 0.26%, to 4,479.71 The Dow Jones Industrial Average rose 110.02 points, or 0.31%, to 35,625.40 The Nasdaq Composite slumped -29.13 points, or 0.20%, to 14,793.76 The Russell 2000 Index declined -19.69 points, or 0.89% to 2,203.41 Events Calendar for Today 7:45 AM ET ICSC Weekly Retail Sales 8:30 AM ET Advance Retail Sales MoM for July…est. (-0.02%) 8:30 AM ET Retail Sales Ex; Autos MoM for July…est. 0.1% 8:55 AM ET Johnson/Redbook Weekly Sales 9:15 AM ET Industrial Production MoM for July…est. 0.5% 9:15 AM ET Capacity Utilization for July…est. 75.7% 10:00 AM ET Business Inventories MoM for June…est. 0.8% 10:00 AM ET NAHB Housing Market Index for Aug…est. 80 4:30 PM ET API Weekly Inventory Data Earnings Calendar: Earnings Before the Open: AIT, CRTD, HD, OB, PINC, WMT Earnings After the Close: A, CDK, CREE, CRMT, DNUT, INST, JKHY, LZB Other Key Events: EnerCom Oil & Gas Conference (virtual), 8/15-8/18 BWS Financial Growth and Value Conference (virtual), 8/16-8/17 Needham MedTech and Diagnostics Conference (virtual), 8/16-8/17 Truist Atlanta Bank Summit (virtual) 8/16-8/17 Davidson West Coast Bank Tour (virtual), 8/17-8/18 Deutsche bank Transportation Conference (virtual), 8/17-8/18 Macro Up/Down Last Nymex -0.33 66.96 Brent -0.23 69.28 Gold 6.55 1,794.00 EUR/USD -0.0012 1.1766 JPY/USD 0.05 109.29 10-Year Note -0.027 1.23% World News The Fed’s Rosengren said last night his preference would be to start tapering bond purchases in the fall, potentially October or November, no later than December; says if we get another strong labor market report, he would be supportive of announcing taper program in September Sector News Breakdown Consumer Home Depot ($HD) shares fall -4% on comp sales miss; Q2 EPS $4.53 vs. est. $4.43; Q2 revs $41.12B vs. est. $40.73B; Q2 comp sales rose 4.5% below est. 5.6% and comparable sales in the U.S. increased 3.4% vs. est. 4.9%; number of customer transactions declined by 5.8% YoY to 481.7 million, but the average ticket size grew 11% to $82.48 Stanley Black & Decker ($SWK) agreed to acquire the remaining 80% ownership stake in MTD Holdings Inc., a privately held global manufacturer of outdoor power equipment, for $1.6 billion in cash Gan Ltd. ($GAN) Q2 EPS loss (-$0.07) vs. est. loss (-$0.01); Q2 revs $34.6M vs. est. $34.53M; sequential revenue growth of 24%, driven by strong international results in b2c segment; reiterates revenue guidance of $125 – $135 million, or 270% YoY growth at the mid-point; backs FY21 revenue view of $125M-$135M Lightning eMotors ($ZEV) Q2 EPS loss (-$0.79) vs. est. loss (-$0.14); Q2 revs $5.9M vs. est. $5.37M; sees Q3 revs $4M-$6M vs. est. $10.58M; sees Q3 adjusted loss from operations $12M-$13M; no longer expects to meet full year guidance; said no orders have been cancelled and company expects to fulfill those orders in future quarters; sees for qtr ending sept 30, vehicle and powertrain sales of 28 units to 40 units Elys Game Technology ($ELYS) Q2 revenue $11.7M vs est $10.89M; 2Q Betting Handle +134% YoY to $220.1M; Q2 GGR +153.8% YoY to $14.9M; Q2 total revenue +143% YoY to $11.7M Spirit Airlines ($SAVE) said it expects total operating revenues in the range of $885M – $955M vs. $1.05B consensus and adjusted operating expenses between $1,030M and $1,040M; expects a negative revenue impact of ~50M from 2,826 flight cancellations between July 30 and August 9, due to airport staffing shortages and adverse weather; also noted softer-than-expected booking trends and increased close-in guest cancellations, likely due to a resurgence in COVID-19 cases Energy, Industrials and Materials Ammo Inc. ($POWW) Q1 adj EPS $0.13 on revs $44.5M, up 360%; says raising 2022 revenue guidance from $190M to $210M, including reiterating our expectation for Q2 revenue of at least $51M and sees Q3 revs about $60M; increasing our Adjusted EBITDA guidance for fiscal 2022 from $65M to $70M Clean Energy Fuels Corp. ($CLNE) announced a slew of new deals in response to the demand for renewable natural gas ($RNG), a fuel produced from organic waste, as more fleets adopt and expand their use of the low-carbon transportation fuel. RNG represents more than 74 percent of the 26 million gallons of fuel Clean Energy expects to provide through these recent signed agreements. Clean Energy has a stated goal of providing 100 percent zero-carbon renewable fuel at its stations by 2025. Financials Opendoor Technologies inc. ($OPEN) announces proposed convertible senior notes offering Healthcare Berkshire Hathaway reduced its stakes in large cap Pharma names Merck (MRK) by 48.8% to 9.2M shares, AbbVie ($ABBV) by 10.2% to 20.5M shares and Bristol-Myers (BMY) by 15.3% to 26.3M shares and exited shares in Biogen ($BIIB) according to 13F filings The Biden administration is planning to announce that most Americans who have received the coronavirus vaccine will need booster shots eight months after being fully vaccinated as the delta variant sparks a surge in Covid-19 cases – Washington Post Eli Lilly and Company ($LLY) today announced executive leadership changes and the creation of neuroscience and immunology business units. These changes will increase Lilly’s focus on introducing breakthrough new medicines to millions of people with unmet needs. Incyte ($INCY) and InnoCare announced that Incyte and a subsidiary of InnoCare have entered into a collaboration and license agreement for the development and commercialization of tafasitamab, a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody, in China Clovis ($CLVS) renews at-the-market equity program with $125M offering Globus Medical ($GMED) announced that Excelsius3D, an intelligent intraoperative 3-in-1 imaging system, has been granted 510(k) clearance by the FDA Solid Biosciences Inc. ($SLDB) ends q2 with about $249 mln cash and investments; cash runway into q4 2022; said net loss for Q2 of 2021 was $18.7M vs. $19.0M for Q2 of 2020 Technology, Media & Telecom Roblox Corp. ($RBLX) shares fall -6%; Q2 EPS loss (-$0.25) vs. est. $0.24; Q2 revs $454.1M vs. est. $689.2M; qtrly bookings increased 35% over q2 2020 to $665.5M; qtrly average daily active users ($DAUs) were 43.2 mln, an increase of 29%; qtrly average bookings per DAU was $15.41, a slight increase year over year Chinese stocks listed in the U.S. ($BIDU, $BABA, $DIDI, $JD, $NTES) fall in premarket trading following Beijing’s latest moves to tighten its grip on the nation’s internet giants and after SEC Chair Gary Gensler issued his most direct warning yet about the risks of investing in Chinese companies Sea Limited ($SE) Q2 EPS loss (-$0.61) vs. est. loss (-$0.52); Q2 revs $2.3B vs. est. $1.93B; digital entertainment active users 725.2 million, +45% y/y; digital entertainment paying users 92.2 million, +85% y/y; said is raising the guidance for both digital entertainment and e-commerce for the full year of 2021. We expect bookings for digital entertainment to be between $4.5 billion and $4.7 billion, representing 44.4% growth from 2020 at the midpoint of the revised guidance Fabrinet ($FN) Q4 Non-GAAP EPS $1.31 vs. est. $1.22; Q4 revs $509.6M vs. est. $487.5M; sees Q1 revs $510M-$530M vs. est. $491.5M Telos Corp. ($TLS) Q2 adj EPS $0.04 vs. est. $0.02; Q2 revs $52.56M vs. est. $53.7M; backs FY21 rev view to $283M-$295M vs. est. $288.75M; said sees FY21 adjusted EBITDA $33M-$36M. Upstart Holdings, inc. ($UPST) announces proposed private offering of $575,000,000 of convertible senior notes due 2026 Global-e Online ($GLBE) Q2 EPS (2c) vs 2 est’s 0c; Q2 rev $57.3M vs est $47.6M; Q2 adjusted EBITDA $7.6M vs. $3.1M YoY; sees Q3 rev $54.3M-$56.3M vs $48.4M; sees Q3 adj EBITDA $2.8M-$3.8M and GMV of $328M-$338M; raises FY21 rev view to $227M- $231M from $209M-$213.5M vs est $210.95M; raises FY21 GMV view to $1.35B-$1.37B from $1.21B-$1.255B

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@DarkPoolAlgo #Dark Pool Charts
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Friday, July 16, 2021 Futures Up/Down % Last Dow 20.00 0.06% 34,884 S&P 500 3.25 0.09% 4,355 Nasdaq 18.50 0.12% 14,805 U.S. futures are pointing higher, looking to recover following a mixed day on Wall Street Thursday, as investors await the onslaught of quarterly earnings and the potential inflation impact it might be having on businesses while assessing Federal Reserve Chairman Jerome Powell’s repeated assurances that rising price pressures will only be temporary. Just this morning, auto supplier Autoliv ($ALV) posted a quarterly miss on the top and bottom line citing the negative effect of the semiconductor shortage and continued rise in raw material prices. Stocks finished Thursday’s session mostly lower following comments from Powell that the inflation surge the U.S. is experiencing as it recovers from the pandemic will ease or reverse over time. In Asian markets, The Nikkei Index dropped -276 points to 28,003, the Shanghai Index fell -25 points to 3,539, the Hang Seng Index inched up slightly to 28,004. In Europe, the German DAX is down a few points to 15,620, while the FTSE 100 is up a few points to 7,025. The yield on the benchmark 10-year Treasury rose Friday to 1.33%, trimming its third weekly decline. Busy morning of economic data with retail sales, Michigan confidence data and Business Inventories. Market Closing Prices Yesterday The S&P 500 Index dropped -14.27 points, or 0.33%, to 4,360.03 The Dow Jones Industrial Average rose 53.79 points, or 0.15%, to 34,987.02 The Nasdaq Composite slipped -101.82 points, or 0.70%, to 14,543.13 The Russell 2000 Index declined -12.07 points, or 0.55% to 2,190.29 Events Calendar for Today 8:30 AM ET Retail Sales MoM for June 8:30 AM ET Retail Sales MoM Ex: Autos MoM for June 10:00 AM ET Business Inventories MoM for May 10:00 AM ET University of Michigan Confidence, July-P 1:00 PM ET Baker Hughes Weekly rig count data 4:00 PM ET Net Long-term TIC Flows for May Macro Up/Down Last Nymex 0.28 71.93 Brent 0.21 73.68 Gold -6.35 1,823.15 EUR/USD -0.0007 1.1805 JPY/USD 0.35 110.18 10-Year Note +0.027 1.324% Sector News Breakdown Consumer Autoliv ($ALV) Q2 adj EPS $1.20 vs. est. $1.43; Q2 revs $2.02B vs. est. $2.12B; and cut its full-year outlook, citing the continued impact of the COVID-19 pandemic, the negative effect of the semiconductor shortage and continued rise in raw material prices; lowers year sales growth view to up 20%-22% from prior around 23% Alaska Air ($ALK) sees 2Q ASM -21% vs 2019, sees rev passengers -28% vs 2019, sees load factor 77%, sees 2Q economic fuel cost/gallon $1.90, sees CF from ops about $830Mm American Outdoor Brands Inc. ($AOUT) Q4 adj EPS $0.34 vs. est. $0.23; Q4 revs $64.5M vs. est. $65M; sees year EPS $2.02-$2.26 vs. est. $2.13; sees FY revs $280M-$295M vs. est. $284.9M; Q4 gross margin 44.4%, flat y/y American Airlines ($AAL) tells remaining 3,300 flight attendants on leave they’ll be coming back by the end of the year, plans to hire 800 to support demand Didi Global ($DIDI) shares fall -6% after China sends state officials from at least seven departments to the ride-hailing giant for cybersecurity review, as regulatory pressure intensifies Energy, Industrials & Materials Alcoa Inc. ($AA) Q2 adj EPS $1.49 vs. est. $1.37; Q2 revs rise 32% to $2.83B vs. est. $2.64B; continues to expect a strong 2021 based on continued economic recovery and increased demand for aluminum in all end markets; its aluminum segment is forecasting double digit growth on year-over-year sales of value-add products in 2021 Marten Transportation ($MRTN) 2Q EPS $0.26 vs est. $0.26 on revs $232.4Mm vs est. $238.6Mm Stevanato Group ($STVN) 32M share IPO priced at $21.00 Dow Inc. ($DOW) downgraded to Underperform from Neutral and LyondellBasell ($LYB) downgraded to Neutral from Buy at Bank America while firm upgraded Olin Corp. ($OLN) to Buy and Westlake Chemical ($WLK) to Neutral in chemical sector Financials Square ($SQ) is forming a new business that pulls together Seller, Cash App & Tidal to focus on “building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services,” CEO Jack Dorsey tweeted State Street ($STT) raises quarterly dividend 10% to 57c from 52c, authorizes $3B share buyback BancFirst ($BANF) Q2 EPS $1.45 vs. est. $1.13; Q2 loan loss provision ($9.9M) vs. $19.3M for 2Q20; Q2 net charge-offs were 0.06% of average loans, compared to none in 2Q20 People’s United Financial ($PBCT) 2Q adj EPS $0.41 vs. est. $0.35; NII $380.9Mm vs. est. $396.4Mm; Net interest margin 2.70% vs. 3.05% y/y; return on average assets 1.07% vs. 0.58% y/y; return on average equity 14.7% vs. 8.10% y/y; net charge-offs ratio 0.1% vs. 0.08% y/y Western Alliance Bancorp ($WAL) Q2 EPS $2.17 vs. est. $1.96; Q2 revs $506.5M vs. est. $494M; Q2 net interest income was $370.5M, an increase of $53.2M from $317.3M I Q1 Bit Digital ($BTBT) files $500M mixed securities shelf Bridge Investment $(BRDG)75M share IPO priced at $16.00 Healthcare Moderna Inc ($MRNA) will join the S&P 500 index as of the start of trading on July 21, replacing Alexion Pharmaceuticals ($ALXN) which is being acquired by AstraZeneca ($AZN) FibroGen ($FGEN) announced that the U.S. FDA Cardiovascular and Renal Drugs Advisory Committee voted to recommend not approving Roxadustat, an oral hypoxia-inducible factor prolyl hydroxylase Erasca ($ERAS)5M share IPO priced at $16.00 Imago BioSciences ($IMGO)6M share IPO priced at $16.00 Mesoblast ($MESO) presents clinical outcomes from remestemcel-L trial in ventilator-dependent COVID-19 patients with moderate/severe acute respiratory distress syndrome (ARDS). TScan Therapeutics ($SCAN)67M share IPO priced at $15 Alexion ($ALXN) announces positive topline results from phase 3 study of Ultomiris in adults with generalized myasthenia gravis (gmg); co says study met primary endpoint of change from baseline in the myasthenia gravis-activities of daily living profile total score at week 26 Corvus Pharmaceuticals ($CRVS) discontinues phase 3 study of Mupadolimab (anti-cd73) for covid-19 due to vaccine effectiveness in reducing hospitalizations; reduces projected 2021 net cash used in operating activities by an estimated $11 mln Technology, Media & Telecom Intel ($INTC) is considering a deal to buy GlobalFoundries, The Wall Street Journal reported citing people familiar with the matter, saying a deal may value GlobalFoundries at about $30B https://on.wsj.com/3koWMam Tencent Music ($TME) downgraded to Equal Weight from Overweight at Morgan Stanley Aehr Test Systems ($AEHR) Q4 adj EPS $0.04 vs. est. $0.02; Q4 revs $7.6M vs. est. $7.03M; guides FY revs to $28M AT&T ($T), commenting in a filing, reports prelim 2Q DirecTV churn 1.87% vs 2.42% y/y; DirecTV, AT&T TV and U-Verse TV, prelim 2Q aggregate premium video gross additions 492,000, +2% y/y; DirecTV, AT&T TV and U-Verse TV, prelim 2Q video net losses 473,000, improvement of 47% y/y Blend ($BLND) 20M share IPO priced at $18.00

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@FiatMoneyEater #robertrother
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Ein einziger Wal manipuliert den Kurs seit Wochen. Der relativ neue Wal (2019) verkauft immer an bestimmten Kursmarken einige tausend Coins genau dort aus wo eigentlich alles für ein Long spricht, um diese dann abzufischen. Schau euch seine Trades an. Haltet mich für einen Spinner aber diese Taktik treibt den Kurs warscheinlic auch noch auf die 20K Es ist die Nr3 in dieser Liste und höchstwarscheinlich einer aus der Bankster Welt. https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

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@RainerL #BTC-ECHO
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Wal müsste man sein wenigstens ein Kleiner 😃

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@lueley #BTC-ECHO
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Bei Bitfinex wurde aber heute nacht nen Wal mit 10k btc long bedient, der hat die schwäche genutzt um nachzukaufen

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@PeterBecker #robertrother
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🤣 > @KaiG said: Wer mag blos der Mega Wal mit 9,699,900 RoRo sein ? 🤔😂

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@mike. #robertrother
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hey nicht so laut, sonst werden die Anderen einversüchtig auf mich. 😁 > @KaiG said: Wer mag blos der Mega Wal mit 9,699,900 RoRo sein ? 🤔😂

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@KaiG #robertrother
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Wer mag blos der Mega Wal mit 9,699,900 RoRo sein ? 🤔😂

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@dros #droscrew
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+Initiations 11/4: $ACET $CNCE $IPI $PPBI $QURE $WAL $XPEV

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@Brandon #
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On the Daily: Gold Bullish NQ: Mild Bullish 100% net long ES Weak low at 3330.70 Weak Buyers on the settlement of the prior day low. Potential fade on the overnight gap. Climate: Total Chop of trap door below 3330.75 Bear Set Up: $LULU Call Sell above 325; $MSFT Call sell above 205.45 Bull pivot: $WAL Long ATM calls 2 weeks out; $FAST Long ATM Calls 2 weeks out.

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Key Metrics

Market Cap

8.45 B

Beta

1.30

Avg. Volume

676.98 K

Shares Outstanding

108.28 M

Yield

1.78%

Public Float

0

Next Earnings Date

2022-07-14

Next Dividend Date

Company Information

With more than $30 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. The company has ranked in the top 10 on the Forbes 'Best Banks in America' list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence. Its primary subsidiary, Western Alliance Bank, Member FDIC, helps business clients realize their ambitions with local teams of experienced bankers who deliver superior service and a full spectrum of customized loan, deposit and treasury management capabilities. Business clients also benefit from a powerful array of specialized financial services that provide strong expertise and tailored solutions for a wide variety of industries and sectors. A national presence with a regional footprint, Western Alliance Bank operates individually branded, full-service banking divisions and has offices in key markets nationwide.

CEO: Kenneth Vecchione

Website:

HQ: 1 E Washington St Phoenix, 85004-2492 Arizona

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